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Aug 18, 2013
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the detroit story is sort of separate. one of the things that's lost in the discussion about detroit and our cities is city economy and fiscal health oftentimes do different things. look at new york city. new york is thriving by any definition but if you look at neighborhoods like the meatpacking district. and 70 and and 80 you wouldn't be caught dead there now. it's a casting call. it's like the place to be. that never would've happened before. sunnier kids kind of like an amusement park in many ways now where it used to be, the economist and very well. new york has fiscal problems, too. many of the same problems that detroit has. so those are two kind of different things. detroit is some of the rust belt cities are still adjusting to a massive shift in the coming from an industrial-based economy to a service economy detroit has a number of other things happening there as well, but not all cities are sort of wildly responded and research and the way new york is. but many are. i do think places like detroit and maybe buffa
the detroit story is sort of separate. one of the things that's lost in the discussion about detroit and our cities is city economy and fiscal health oftentimes do different things. look at new york city. new york is thriving by any definition but if you look at neighborhoods like the meatpacking district. and 70 and and 80 you wouldn't be caught dead there now. it's a casting call. it's like the place to be. that never would've happened before. sunnier kids kind of like an amusement park in...
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Aug 12, 2013
08/13
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the first part is, we notice as we speak, detroit's going bust. so, the first part of the question is, what cities are having the problems you're talking about and why do you think that is and then what cities are not? >> guest: our city story is a tail of -- tale of two cities and the detroit story is separate. one thing that is lost in the discussion about detroit and our cities is that cities' economies and fiscal health are often times two different things. you look at new york city. new york is thriving by any definition. you look at neighborhoods like the meat packing district, in the '70s and '8ss you wouldn't be caught dead there now it's so many 20 somethings on the weekend, the place to be, and that would have never happened before. so new york is like an amusement park. the economy is doing very well. but new york has fiscal problems, too. many of the same fiscal pension problems that detroit has. so those are two different things. detroit is some of the rust belt cities are adjusting to as massive shift from an industrial economy to se
the first part is, we notice as we speak, detroit's going bust. so, the first part of the question is, what cities are having the problems you're talking about and why do you think that is and then what cities are not? >> guest: our city story is a tail of -- tale of two cities and the detroit story is separate. one thing that is lost in the discussion about detroit and our cities is that cities' economies and fiscal health are often times two different things. you look at new york city....
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Aug 17, 2013
08/13
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could new york city be heading the way of detroit? mayor michael bloom blom said the risk of bankruptcy is role and the successor will have their work out for them. the mayor is punting an expensive problem. david miller examines the city's financial future. >> the new yorkers will elect a new mayor. >> avoiding the hard chose system how detroit went bankrupt. the city workers contributed to detroit's work. and threatening the new york economic stability. they pay nothing for 6.throe billion in annual health care and workers may little for pensions that have taxpayers on the hock. >> the new york city has 10,000 police officers retired who are under 40 and collecting pension and they will collect them for the rest of their lives. >> contracts for all city workers expired three years ago. and the next mayor will be under pressure to win concessions. >> the unions tonight want to negotiate with mayor blom bloom. he is a tough businessman. many remember when the city almost went broke after president ford said no to a bail out. the edito
could new york city be heading the way of detroit? mayor michael bloom blom said the risk of bankruptcy is role and the successor will have their work out for them. the mayor is punting an expensive problem. david miller examines the city's financial future. >> the new yorkers will elect a new mayor. >> avoiding the hard chose system how detroit went bankrupt. the city workers contributed to detroit's work. and threatening the new york economic stability. they pay nothing for...
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Aug 12, 2013
08/13
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i think places like detroit and buffalo and others are the minority. over all the story about a cities right now is that more people are staying in them and more people with families, young couples with families. >> host: seattle is thriving in the booming, bamberger is thriving and booming, chicago is thriving and booming. what do these places have in common? >> guest: it's living in the city and raising kids in the city is an option now where it didn't used to be and if that is a number of reasons i talk about in the book. it's the same thing driving away from serbia. rising gas prices come people having fewer children, wanting more sense of liveliness in their communities, schools improving in the cities. the schools are still big issues in the nevado people to the suburbs but that is starting to change, so and cities are different. a city like seattle or st. wallsten it's easy to have a suburban lifestyle in those cities you can have a single-family detached house and still be in the city and in fact you are living in a kind of dense -- usually tho
i think places like detroit and buffalo and others are the minority. over all the story about a cities right now is that more people are staying in them and more people with families, young couples with families. >> host: seattle is thriving in the booming, bamberger is thriving and booming, chicago is thriving and booming. what do these places have in common? >> guest: it's living in the city and raising kids in the city is an option now where it didn't used to be and if that is a...
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producer amir david recently traveled to detroit to see what lies ahead for the. motor city. we cannot and must not and we will not while it may seem like a calamity of the distant past it was only four years ago that the obama administration rode to the rescue of two detroit automakers general motors and chrysler the federal government port eighty billion dollars into the companies extending them a lifeline out of a looming bankruptcy. but it seems the city of detroit won't get the same bailout even after declaring a twenty billion dollar debt becoming the largest municipal bankruptcy in u.s. history and this time around city employees will feel it the most as they are likely to see significant cuts to their pensions and post employment health care benefits bill will of voice of concern is reverberating throughout the city hasn't quite overtaken another sentiment one that's magnified over the last few years i've been here all of my life and i've seen it in a big not like it is more good as come to speak it is buying business these games and i see a lot of construction going
producer amir david recently traveled to detroit to see what lies ahead for the. motor city. we cannot and must not and we will not while it may seem like a calamity of the distant past it was only four years ago that the obama administration rode to the rescue of two detroit automakers general motors and chrysler the federal government port eighty billion dollars into the companies extending them a lifeline out of a looming bankruptcy. but it seems the city of detroit won't get the same...
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it's been less than a month since the city of detroit filed the largest municipal. bankruptcy and u.s. history seeking chapter nine protection for nearly twenty billion dollars worth of debt in long term liabilities now michigan state officials have taken the reins of the city's financial matters seeking to find a solution to a problem that many say is been brewing for years but although the detroit faces a dwindling population in the stressed economy the city may be turning a new page. producer amir david recently traveled to detroit to see what lies ahead for the motor city. we cannot and must not and we will not while it may seem like a calamity of the distant past it was only four years ago that the obama administration rode to the rescue of two detroit automakers general motors and chrysler the federal government port eighty billion dollars into the companies extending them a lifeline out of a looming bankruptcy. but it seems the city of detroit won't get the same bailout even after declaring a twenty billion dollar debt becoming the largest municipal bankruptc
it's been less than a month since the city of detroit filed the largest municipal. bankruptcy and u.s. history seeking chapter nine protection for nearly twenty billion dollars worth of debt in long term liabilities now michigan state officials have taken the reins of the city's financial matters seeking to find a solution to a problem that many say is been brewing for years but although the detroit faces a dwindling population in the stressed economy the city may be turning a new page....
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city can pick itself back up i'm joined now by a detroit native and because. you know i really love the story because we always hear so many negative things detroit the city of death. you know depression what made you turn to the story and you have learned this is a city that obviously gets a bad rap and it's really hard being from detroit and you know living now living in new york and living in d.c. always having to fend for the city but the reality is that that's those are the stories that get the most traction mayor you know that kind of new cells that decrepit buildings abandoned buildings but the you know you have to remember it's a fraction of what the city represents there's a lot more going on and that's why i wanted to go back and tell that story absolutely and i really loved it the way you did it where does the bankruptcy filing stand right now so the latest is that a u.s. bankruptcy court judge set the date for moving this case along so august nineteenth is the key date that is the deadline for all motions arguing you know for anyone to put forward
city can pick itself back up i'm joined now by a detroit native and because. you know i really love the story because we always hear so many negative things detroit the city of death. you know depression what made you turn to the story and you have learned this is a city that obviously gets a bad rap and it's really hard being from detroit and you know living now living in new york and living in d.c. always having to fend for the city but the reality is that that's those are the stories that...
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still ahead tonight we'll take a closer look at the city of detroit and what the future will hold an exclusive report from the test producer in there david. church is essential. to children the streets. that women kidnapped and converted to islam police will soon be another girl says for the cup to christians of egypt to the existence of such a thing to. the way of the cross city. the main competitor on the market is mother nature. may customers struggle with students. for each drop from an old dirty supply. let people think i hear prices purer want to. live on our teeth. they use it up there and wash their hands. and flush their toilets when the same water. nestle's is selling as spring water. thanks. it's been less than a month since the city of detroit filed the largest municipal bankruptcy in u.s. history seeking chapter nine protection for nearly twenty billion dollars worth of debt and long term liabilities now michigan state officials have taken the reins of the city's financial matters seeking to find a solution to a problem that many say is been brewing for years but althoug
still ahead tonight we'll take a closer look at the city of detroit and what the future will hold an exclusive report from the test producer in there david. church is essential. to children the streets. that women kidnapped and converted to islam police will soon be another girl says for the cup to christians of egypt to the existence of such a thing to. the way of the cross city. the main competitor on the market is mother nature. may customers struggle with students. for each drop from an old...
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going back in detroit. morgan hit the il on the head. you have a city whose population reduced two-thirds since the 1950s anand they have a land ma you could fit manhattan and botton and san francisco into and they are raising taxes. when you have fewer people, you are trying to find some way to pay the bills. obviously it didn't work. you can't take that to a national sphere. >>ther cities had a population encrose and they increase the tax it doesn't mean that the city gets better, does it? >> no, i wan to cut taxes any chance we can get. mile per hour has highway tax rate and also the home of greatest global brands. what killed detroit was the fact that the tea and its people and companies were stuck in the 20th centy. poor cities and states continue to cling to manufacturing jobs. rich cities and states design goods and manufacture them overseas. if detroit wants to get in the 21st century it will rise again. cutting taxes will help. >> rich, there is a lot of factors that go in a demise of the tea like detroit but taxes didn't hehelp
going back in detroit. morgan hit the il on the head. you have a city whose population reduced two-thirds since the 1950s anand they have a land ma you could fit manhattan and botton and san francisco into and they are raising taxes. when you have fewer people, you are trying to find some way to pay the bills. obviously it didn't work. you can't take that to a national sphere. >>ther cities had a population encrose and they increase the tax it doesn't mean that the city gets better, does...
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Aug 26, 2013
08/13
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i think the federal government should write a check to detroit. i think the federal government should do those kinds of things to all municipalities having trouble. why not? it's in our country. and it can get paid back. i believe in workers, i believe that detroit can turn it around. our next question is from anita. why are the gop -- why is the gop talking impeachment when president obama has done nothing wrong because they have nothing else. and they do believe they can ginn up enough fear and enough enthusiasm to get people to believe this is something that actually could happen. they also do want a vote on impeachment in the house so they can get on record that they have impeached the last two democratic presidents and just stick in the minds of the young people of america that you know the democrats you just can't trust them. they've all got to be impeached. i believe this is as much of a generational signature as it is anything else. stick around. rapid response panel is coming up next. i'm julia boorstin. the dow dropped 64 points. the s&p
i think the federal government should write a check to detroit. i think the federal government should do those kinds of things to all municipalities having trouble. why not? it's in our country. and it can get paid back. i believe in workers, i believe that detroit can turn it around. our next question is from anita. why are the gop -- why is the gop talking impeachment when president obama has done nothing wrong because they have nothing else. and they do believe they can ginn up enough fear...
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investing in a myriad of businesses and new vehicle technologies robert for cano who oversees detroit as wayne county executive has been to china seven times since two thousand and five he says the recent activity is sending a very powerful message they still see this is a strong economy i mean people i know get uptight about them buying or treasury bonds and things like that step back and say what does that mean that means they believe in your economy and that belief in the economy is echoed by detroiters we're starting to see their community change. one of those neighborhoods it's cast or door an area that seen unprecedented development with refurbished streets new restaurants and retail shops clear nelson both works and lives in the neighborhood what i'm seeing is. a lot of investment and creativity and innovation happening around retail cooler so this tax finally for the first time in a long time is why i want people experimenting with new ideas new ideas being brought to the city by new people with a younger generation not only working in detroit but living here to revitalizing t
investing in a myriad of businesses and new vehicle technologies robert for cano who oversees detroit as wayne county executive has been to china seven times since two thousand and five he says the recent activity is sending a very powerful message they still see this is a strong economy i mean people i know get uptight about them buying or treasury bonds and things like that step back and say what does that mean that means they believe in your economy and that belief in the economy is echoed...
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Aug 12, 2013
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. >> i feel so sorry for people not living in detroit. detroit gives a sense of civilization in a way you do not get in a city like new york. obvious what was does not work. striving forways giant, and this is how giants fall. to have youhonored on this program. i am glad you are here. >> i am glad to be here. >> let me ask you what it is about detroit that makes you hopeful. aboute you so optimistic detroit's future? was a picture of the packard motor company. it is now 38 years
. >> i feel so sorry for people not living in detroit. detroit gives a sense of civilization in a way you do not get in a city like new york. obvious what was does not work. striving forways giant, and this is how giants fall. to have youhonored on this program. i am glad you are here. >> i am glad to be here. >> let me ask you what it is about detroit that makes you hopeful. aboute you so optimistic detroit's future? was a picture of the packard motor company. it is now 38...
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Aug 13, 2013
08/13
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the judge also banned the detroit area doctor from practicing medicine if he does get out. investigators say he diagnosed patients with cancer even if it wasn't clear they had it. and that gave chemotherapy to those who absolutely did not need it. all for the medicare money. the doctor's attorney argued that there is no reap to think that he will run and that he should have the right to work which defending himself -- while defending himself against the charges. for the first time, we're hearing from the winners of last week's giant power ball jackpot. the ones from that town on the jersey shore. still on the mend after super storm sandy. if you like an eclectic group. you enjoy being entertained. this bunch will suit your fancy. guess how one of these winners plan to spend the money. you cannot. plus the actor jason fight for custody of young son it centers around one question. when do sperm donors deserve parental rights. and if he was acting as a father for all those years, shouldn't he have contact with his son? maybe not. when you realizeou need to switch to verizon, i
the judge also banned the detroit area doctor from practicing medicine if he does get out. investigators say he diagnosed patients with cancer even if it wasn't clear they had it. and that gave chemotherapy to those who absolutely did not need it. all for the medicare money. the doctor's attorney argued that there is no reap to think that he will run and that he should have the right to work which defending himself -- while defending himself against the charges. for the first time, we're...
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on the list of good investments ok i'm not an economist but i would say i just went to detroit recently and i really feel like it's coming back i mean you have to keep in mind this is a city that's already hit a low a major major low and i don't think it can get much lower than i did it's just going to go up from here i mean the hundred dollar houses i mean they're literally just trying to get rid of inventory so how do. we clear the market ok yes the one hundred dollar houses those do exist but on the flip side of that i was there and speaking to people downtown who were telling me that there is an apartment shortage that there are young people moving in and they have no place to live so it's very very ironic thing there's a demand for apartments and loft and condos for the young people that are coming in the city that have a desire who who are these young people who are coming into the city i know we kind of talked about well if there was absolutely means there is huge companies that are taking retire there is one quicken loans in particular which is run by dan gilbert just moved ther
on the list of good investments ok i'm not an economist but i would say i just went to detroit recently and i really feel like it's coming back i mean you have to keep in mind this is a city that's already hit a low a major major low and i don't think it can get much lower than i did it's just going to go up from here i mean the hundred dollar houses i mean they're literally just trying to get rid of inventory so how do. we clear the market ok yes the one hundred dollar houses those do exist...
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financial system leeching out the vital nutrients or in this case cash leaving the economy in places like detroit to die remember jamie and his collateralized debt obligations that his financial position is securitization cause detroit goldman sachs with their parking or diamond is parking of where aus aluminum or out is right next door to detroit there that's a tape warm that's a leech leaching out the vital economic essence for making that town collapse and closing he they call it there that the parasites are. wall street clothes this economy collapses very simple a equals b. and this man in chengdu china he was suffering from fainting fits kind of like our market flash crashes and the thousand point drop in the dow back in two thousand and eight and then he was also suffering from painful migraines exactly like our financial markets but what is happened here is the so-called doctors of this financial system like the central banks and the treasury department's look at the system and they don't even look for the tapeworms but they just keep on throwing more nutrients at the system that cash the
financial system leeching out the vital nutrients or in this case cash leaving the economy in places like detroit to die remember jamie and his collateralized debt obligations that his financial position is securitization cause detroit goldman sachs with their parking or diamond is parking of where aus aluminum or out is right next door to detroit there that's a tape warm that's a leech leaching out the vital economic essence for making that town collapse and closing he they call it there that...
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sachs with their parking or diamond is parking of where ows is aluminum warehouses right next door of detroit there that's a tape warm that's a leech leeching out the vital economic essence for making that town collapse in closing he they call their the parasites on wall street cause this economy to collapse is very simple a equals b. and this man in chengdu china he was suffering from fainting fits kind of like our market flashed. ashes and the thousand point drop in the dow back in two thousand and eight and then he was also suffering from painful migraines exactly like our financial markets but what is happened here is the so-called doctors of this financial system like the central banks and the treasury department's look at the system and they don't even look for the tapeworms but they just keep on throwing more nutrients at the system that cash the liquidity for the banks and everybody wonders where it's all going because it's just sitting on a balance sheet and it's of course because the tapeworm that's what as you pointed out they suck the nutrients out to avoid so the human or the sys
sachs with their parking or diamond is parking of where ows is aluminum warehouses right next door of detroit there that's a tape warm that's a leech leeching out the vital economic essence for making that town collapse in closing he they call their the parasites on wall street cause this economy to collapse is very simple a equals b. and this man in chengdu china he was suffering from fainting fits kind of like our market flashed. ashes and the thousand point drop in the dow back in two...
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stay are we seeing the first domino right here with detroit is it oh about to fall. well it's not all about to fall and she's correct i believe in her assessment of all of these unfunded pensions etc but to us at the trends journal the did the fall of detroit the bankruptcy is a metaphor for the entire united states so let me explain this is from a it's gone from motown to no tax this this was the country you know henry ford giving workers a working wage so they could buy automobiles this is then becomes the place where dionne dust realisation began us and america starts sending its jobs to cheap labor markets whether within the states and then overseas and also bob very importantly it also became the blueprint for america's future in producing garbage quality products you know i'm old enough to remember when order mall bills were really great and then they became really crummy and that's when the japanese and other marketers moved in to the united states and then when you look at what's going on in detroit now in keeping the metaphor for the united states it's a new
stay are we seeing the first domino right here with detroit is it oh about to fall. well it's not all about to fall and she's correct i believe in her assessment of all of these unfunded pensions etc but to us at the trends journal the did the fall of detroit the bankruptcy is a metaphor for the entire united states so let me explain this is from a it's gone from motown to no tax this this was the country you know henry ford giving workers a working wage so they could buy automobiles this is...
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detail and yes a bit and i will discuss a number of recent global economic trends with gerald celente detroit fred summers versus yellen well you get the picture and hopefully we will get a handle on the future. and here's what's in your prime interest. channel in the dark from back to the future it's time to think fourth dimensionally that means we're going to look into the crystal ball with the help of gerald celente and he is the director of trends research institute gerald thank you for joining me thank you it's great to be with you well uni's are in the news we have detroit and we have this prediction from meredith whitney a few years ago which didn't come true in its day are we seeing the first domino right here with detroit is it all about to fall. well it's not all about the fall and she's correct i believe in her assessment of all of these unfunded pensions etc but to us at the trends journal the did the fall of detroit the bankruptcy is a metaphor for the entire united states so let me explain this is from a it's gone from motown to no tax this this was the country you know henry fo
detail and yes a bit and i will discuss a number of recent global economic trends with gerald celente detroit fred summers versus yellen well you get the picture and hopefully we will get a handle on the future. and here's what's in your prime interest. channel in the dark from back to the future it's time to think fourth dimensionally that means we're going to look into the crystal ball with the help of gerald celente and he is the director of trends research institute gerald thank you for...
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Aug 13, 2013
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downtown detroit is booming in the face of bankruptcy. the motor city's urban areas is on the upswing, as demand for office space picks up. developers are flocking to office rentals that are estimated to be 7 to 25% less than renting space in the suburbs. "it's still malleable. it's still developing and determining what its going to be at the end of the day and with that folks feel that they can come in and actually be part of detroit's revitalization and redevelopment." that was dave blaszkiewicz with the downtown detroit partnership he says the area has at 99% occupancy rate right now. he adds the momentum has created 12 thousand jobs in the past 18 months. the u-s commodities futures trading commission is stepping up its probe into price-fixing of metals. the agency is asking one metals firm to hand over all of its correspondence with the london metal exchance since 2010. companies that use metal in products, such as coca-cola, have complained of limited output from factories, which drives up prices. the probe is also looking into who'
downtown detroit is booming in the face of bankruptcy. the motor city's urban areas is on the upswing, as demand for office space picks up. developers are flocking to office rentals that are estimated to be 7 to 25% less than renting space in the suburbs. "it's still malleable. it's still developing and determining what its going to be at the end of the day and with that folks feel that they can come in and actually be part of detroit's revitalization and redevelopment." that was dave...
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detail and yesterday and i will discuss a number of recent global economic trends with gerald celente detroit fred summers versus yellen well you get the picture and hopefully we will get a handle on the future. and here is what's in your prime interest. channel in the dark from back to the future it's time to think fourth dimensionally that means we're going to look into the crystal ball with the help of gerald celente and he is the director of trends research institute gerald thank you for joining me thank you it's great to be with you well muni's are in the news we have detroit and we have this prediction from meredith whitney a few years ago which didn't come true in its day are we seeing the first domino right here with detroit is it all about to fall. well it's not all about the fall and she's correct i believe in her assessment of all of these unfunded pensions etc but to us at the trends journal the did the fall of detroit the bankruptcy is a metaphor for the entire united states so let me explain this is from a it's gone from motown to no tax this this was the country you know henry
detail and yesterday and i will discuss a number of recent global economic trends with gerald celente detroit fred summers versus yellen well you get the picture and hopefully we will get a handle on the future. and here is what's in your prime interest. channel in the dark from back to the future it's time to think fourth dimensionally that means we're going to look into the crystal ball with the help of gerald celente and he is the director of trends research institute gerald thank you for...
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that through your your resume that's what jamie does to a several day thus the pain you're feeling in detroit that's the pain you're feeling is supposed those the pain you're feeling in your jobs becoming worthless all of this is it just needs to be righted get it. well you know two of those tapeworms combine and this next story because you have the beef tapeworm that i showed you was it gets up to sixty five feet long and then the gene we time diamond tapeworm. j.p. morgan is really infiltrated everything about the whether it's municipal bond market or the food stamp market or mcdonald's workers many of them are given cheap morgan chase debit cards say they were given tapeworm burgers i mean that's a good way to save and having to feed your employees a sixty five foot tape worm that's a few burgers and of course the other to worm in our headlines was the chinese one and they all combined in the headline here fast food workers in new york city stage strikes and rallies workers at mcdonald's burger king and wendy's restaurants across new york walked out on monday in a one day strike to demand
that through your your resume that's what jamie does to a several day thus the pain you're feeling in detroit that's the pain you're feeling is supposed those the pain you're feeling in your jobs becoming worthless all of this is it just needs to be righted get it. well you know two of those tapeworms combine and this next story because you have the beef tapeworm that i showed you was it gets up to sixty five feet long and then the gene we time diamond tapeworm. j.p. morgan is really...
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we're going on i'm doing great talk detroit again because this is your hometown i know you care about it so let's just dive right into it so detroit faces a long and arduous path towards its historic bankruptcy and for an update on this i mean we're here with you now so what's been going on with it for you filing let's just. right there right now obviously it was it did get the green light to go forward was about to start you know bankruptcy proceedings the judge did just set a date august nineteenth is the key day to keep in mind it's a date by which all motions challenges that need to be filed against detroit's eligibility for bankruptcy it's a question that will be addressed in court in october and it may not happen still but if it does happen so these things hearing you know these things can really dry go for your i can't i mean in california two thousand and nine year so i know that the emergency manager wants to see this happen oh ya quicker but when remains to be seen how long it's going to take and we've seen record highs in the stock market this week the s. and p. five hundre
we're going on i'm doing great talk detroit again because this is your hometown i know you care about it so let's just dive right into it so detroit faces a long and arduous path towards its historic bankruptcy and for an update on this i mean we're here with you now so what's been going on with it for you filing let's just. right there right now obviously it was it did get the green light to go forward was about to start you know bankruptcy proceedings the judge did just set a date august...
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so i mean i think the detroit region is definitely saveable, and i think if the detroit region comes back, i think detroit city may find its role within that region. >> detroit seems to be a story that's sort of in some ways opposed to your book and your thesis because it is a classic case where people left the city for the suburbs. you know, crime grew, it became a negative spiral. and the well-to-do white middle class and upper middle class just fled the city. they were doing fine, i suppose. in the outer suburbs, but the city itself imploded. >> it's sort of an outdated narrative. that was the path that everyone beat in the '50s and '60s and '70s. you had the white flight and everything. that's not happening anymore. i would agree with jennifer that detroit is in many ways an outlier. but one thing that's interesting about detroit is that it is a great model. planners are looking at it as a model of how to shrink. you know, nobody talks about shrinking in the planning world, but that is the proper response because you need to shrink the city to meet the demands of its inhabitants
so i mean i think the detroit region is definitely saveable, and i think if the detroit region comes back, i think detroit city may find its role within that region. >> detroit seems to be a story that's sort of in some ways opposed to your book and your thesis because it is a classic case where people left the city for the suburbs. you know, crime grew, it became a negative spiral. and the well-to-do white middle class and upper middle class just fled the city. they were doing fine, i...
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motions challenges that need to be filed against detroit's eligibility for bankruptcy it's a question that will be addressed in court in october and it may not happen still but if it does happen so these things hearing you know these things can really drive go for year yet again even in california two thousand and nine years so i know that the emergency manager wants to see this happen a lot quicker but when remains to be seen how long it's going to take and we've seen record highs in the stock market this week the s. and p. five hundred is above seventeen hundred many companies they're bringing in their earnings but large businesses are sitting on more than one trillion dollars one trillion dollars of excess cash you know would you put the detroit on the list of good investments ok i'm not an economist but i would say i just went to detroit recently and i really feel like it's coming back i mean you have to keep in mind this is a city that's already hit a low a major major low and i don't think it can get much lower than this i think it's just going to go up from here i mean old one
motions challenges that need to be filed against detroit's eligibility for bankruptcy it's a question that will be addressed in court in october and it may not happen still but if it does happen so these things hearing you know these things can really drive go for year yet again even in california two thousand and nine years so i know that the emergency manager wants to see this happen a lot quicker but when remains to be seen how long it's going to take and we've seen record highs in the stock...
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Aug 11, 2013
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kevin tibbles, in, pc news, detroit. >> that are is nightly news if are this saturday. i'm kate snow respecting from new york. for all of us here at nbc news, have a great night. >>> beginning with breaking news. >>> good morning. diane dwyer has the night off and that breaking news has to do with that nationwide amber aleft many reserved on our smart phones this week. tonight the search is over. in the last hour we learned the missing teenage 16-year-old hannah anderson has been found snaf idaho. the man suspected of kidnapping her, james dimaggio is dead. fbi agents have been canvassing the area in idaho and officers on the ground zeroed in on them saying dimaggio was shot and killed during an arrest attempt. >> first thing, hannah appeared to be safe, rescued and reunited with her family in the near future. obviously, we would have liked mr. dimaggio to surrender and face justice in the court of law but that's not going to be the case. >> authorities found his car parked yesterday, he is accused of killing hannah's mother and brother. their bodies found in a burning
kevin tibbles, in, pc news, detroit. >> that are is nightly news if are this saturday. i'm kate snow respecting from new york. for all of us here at nbc news, have a great night. >>> beginning with breaking news. >>> good morning. diane dwyer has the night off and that breaking news has to do with that nationwide amber aleft many reserved on our smart phones this week. tonight the search is over. in the last hour we learned the missing teenage 16-year-old hannah anderson...
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Aug 12, 2013
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in today's cover story, detroit's bankruptcy is hurting investor's miles from michigan. plus, why soda is becoming a harder sell. and, here's man's new best friend: why more chickens and roosters are moving away from the farm. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning! it's monday, august 12th. i'm angela miles. in today's first look: is the summer rally slipping away? the major indicies all fell friday, ending down for the entire week. it's the first weekly decline since june as traders fret over the fed's next move. gold was a gainer by $4. oil added on $2.63 apple shines in its patent case. the internationl trade commission ruled that samsung infringed on iphone patents owned by apple. samsung is expected to appeal. and aol has turned into a chatter stock. shares rose 2% friday on speculation the internet company is planning drastic cuts or that it may shut down its local news sites, called patch. scott shellady of trean group joins us on this monday morning. happy monday morning to
in today's cover story, detroit's bankruptcy is hurting investor's miles from michigan. plus, why soda is becoming a harder sell. and, here's man's new best friend: why more chickens and roosters are moving away from the farm. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning! it's monday, august 12th. i'm angela miles. in today's first look: is the summer rally slipping away? the major indicies all fell friday,...
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Aug 20, 2013
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detroit does not have any problem that is 100% unique to detroit. however, it has a scale that is unprecedented, as well as -- it seems to have all of the problems, not just one or two. in the case of like a birmingham or the county that has declared a see their -- that has declared bankruptcy there, it is because of a specific bad investment, a municipal job that went awry and they lost billions of dollars. detroit is really tied to attention problems, and that is unique -- detroit is really tied to its pension problems, and that is unique, and especially scary to americans. as heidi and i discussed many times, this is either a cautionary tale or a blueprint for other cities. we have to wait and watch. there is all of these unknowns happening right now. detroit is certainly not completely unique in its issues. guest: just to follow-up on that, in terms of scale, the second-largest accuracy, jefferson county -- second- largest bankruptcy, jefferson county, alabama, that was long- term by police, $4.5 billion. are $20s liabilities billion-plus. it co
detroit does not have any problem that is 100% unique to detroit. however, it has a scale that is unprecedented, as well as -- it seems to have all of the problems, not just one or two. in the case of like a birmingham or the county that has declared a see their -- that has declared bankruptcy there, it is because of a specific bad investment, a municipal job that went awry and they lost billions of dollars. detroit is really tied to attention problems, and that is unique -- detroit is really...
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it started right here on the banks of the detroit river in detroit, michigan, and yes, that is a giant nasty pile of something called pet coke. back in may "the new york times" highlighted what they described as a black mound of canadian oil waste rising over detroit. that oil waste is something called petroleum coke, a high sulfur, high carbon waste by-product of canadian oil sands. the pet coke that residents started spotting was put there by a company that owned it, a company call koch carbon, owned by the koch brothers. they started piling up all of this pet coke on banks of the detroit river before preparing to ship it off to other countries to be used as fuel. in addition to be a hideous eye sore, the pile also posed a potential health risk. we've got some video shot last month. look at this. look at that along the banks of the detroit river showing the black dust from the pet coke pile being kicked up in a storm that hit the area and just spreading everywhere. that black dust started blowing into nearby homes in detroit coming right through the windows. one local resident tellin
it started right here on the banks of the detroit river in detroit, michigan, and yes, that is a giant nasty pile of something called pet coke. back in may "the new york times" highlighted what they described as a black mound of canadian oil waste rising over detroit. that oil waste is something called petroleum coke, a high sulfur, high carbon waste by-product of canadian oil sands. the pet coke that residents started spotting was put there by a company that owned it, a company call...
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Aug 12, 2013
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we just opened a store in detroit. a regional store in new york and tribeca, and business is off the chart. liz: if you were to be talking to business leaders at a meeting, what would you say to convince them to do business in detroit? what of the positives? >> the committee is very interested in moving forward. the path is the past. everyone in the business community is set on moving forward and making this a better place to be. we found everyone to be wildly helpful and really helpful in our success. ashley: what about the tax point of view. part of the problem was the taxes went up to try and pay for more services. when they left, when half the town left that tax revenue went down. so from a tax point of view or incentives, what can detered offer companies that other states are now offering, such as wisconsin and indiana that a cherry picking companies as we speak from detroit? how do you stop that process? >> it is hard for me to comment because our business model was not predicated on receiving tax benefits. ashle
we just opened a store in detroit. a regional store in new york and tribeca, and business is off the chart. liz: if you were to be talking to business leaders at a meeting, what would you say to convince them to do business in detroit? what of the positives? >> the committee is very interested in moving forward. the path is the past. everyone in the business community is set on moving forward and making this a better place to be. we found everyone to be wildly helpful and really helpful...
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Aug 30, 2013
08/13
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it is bringing it here to detroit. ford in 2013 is far different company than it was back in 2007 when it was restructured. they are getting greater profitability and sales despite the fact the company has fewer plants, brands and workers. one reason why, greater efficiency. half of the models built by ford and sold by ford in the united states are coming from plants that are running three shift as day, and many of the workers hired at those plants in the last couple of years have been brought in at a lower starting wage rate than long-time uaw workers. meanwhile, on the sales side of the equation for ford, it is doing better competing with it's asian rivals, in fact, the fusion is now the sixth best-selling car in the united states, nipping at the heels of the corolla. that's story here in flat rock, michigan, where ford added 1400 workers to expand production of the fusion models. for "nightly business report," i'm phil lebeaux. >>> google here in the giets, research firm ihs is saying that assembling the motox smart
it is bringing it here to detroit. ford in 2013 is far different company than it was back in 2007 when it was restructured. they are getting greater profitability and sales despite the fact the company has fewer plants, brands and workers. one reason why, greater efficiency. half of the models built by ford and sold by ford in the united states are coming from plants that are running three shift as day, and many of the workers hired at those plants in the last couple of years have been brought...